Our back up plan is to rent out the room as a furnished rental on a monthly basis to nurses and other professionals who need a mid-term rental period.

Looking for some non-licensed legal advice for a rookie Ohio landlord! Recently closed on a multi-unit property where one tenant is part way through the eviction process (hopefully wrapping up by the end of September)...

Telsa just announced an assembly plant in Austin, Amazon is building a 4M Sq Ft distribution facility, Apple is building a campus here, and mid-sized companies keep moving their HQs here from the coasts. 

However, due to the current Covid situation and seeing how bad the food industry is being affected I am at a "mid life crisis" stage of considering a new profession. 

The IRS table will provide the "mid-month" ratio to use.The below is not correct, BTW.Originally posted by @Rex T.

I want to be in the foxhole while team members who care about OUR success- meaning the investor buyer wants to make money and everyone needs to be ready, willing and able to be wonderful, not tell you mid stream - sorry your ratios are too high I can't deliver (fine to say on day one  but not after day 3)

I am looking to purchase a townhome to rent out in a nice mid-size city (Greensboro, NC).

If I were you I'd keep the property and perform rental-grade repairs as they come up, raise the rents to low-mid market, do a cash out refi at historically low rate for 750k and put this into another property locally or out of state.

A condo-hotel on the beach uses these, and my girlfriend that managed hotels on the beach said they're pretty solid:Peak Season (January 1st – April 18th and July 1st – 31st) Mid-Season (April 19th– June 30th and August 1st – August 31st) Low Season (September 1st - December 17th) Most Hotels and short term rentals here in Pinellas go by 75-80% occupancy as a goal for the year. 

My partner and I are both in our mid 20s so we don't have a whole lot of capital at the moment.